GROUP CAPTIVE
\ɡɹˈuːp kˈaptɪv], \ɡɹˈuːp kˈaptɪv], \ɡ_ɹ_ˈuː_p k_ˈa_p_t_ɪ_v]\
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A CAPTIVE formed as a licensed INSURER or REINSURER that is owned by a number of companies, and which writes INSURANCE cover for all of them. Since a group captive engages in a significant amount of third party business, it generally receives more favorable tax treatment than a PURE CAPTIVE. Also known as an ASSOCIATION CAPTIVE or MULTIPARENT CAPTIVE. See also AGENCY CAPTIVE, CAPTIVE, PROTECTED CELL COMPANY, RENTACAPTIVE, SISTER CAPTIVE.
By Henry Campbell Black
Word of the day
Dopamine Acetyltransferase
- An enzyme that catalyzes the of groups from acetyl-CoA to arylamines. They have wide specificity for aromatic amines, particularly serotonin, and can also catalyze acetyl transfer between arylamines without CoA. EC 2.3.1.5.